<article>India&#8217;s online food ordering and restaurant discovery platform<a href="http://dealstreetasia.com/tag/zomato" target="_blank" rel="noopener"> Zomato</a> is said to be in advanced discussions with German food delivery major <a href="http://dealstreetasia.com/tag/delivery-hero" target="_blank" rel="noopener">Delivery Hero</a> to sell its business in the United Arab Emirates.</article>

India&#8217;s online food ordering and restaurant discovery platform<a href="http://dealstreetasia.com/tag/zomato" target="_blank" rel="noopener"> Zomato</a> is said to be in advanced discussions with German food delivery major <a href="http://dealstreetasia.com/tag/delivery-hero" target="_blank" rel="noopener">Delivery Hero</a> to sell its business in the United Arab Emirates.
According to a Times of India report quoting sources, Zomato is asking around $200-250 million for the UAE operations, as it strengthens its war chest against Bengaluru-based rival <a href="http://dealstreetasia.com/tag/swiggy" target="_blank" rel="noopener">Swiggy</a>.
Zomato is also reportedly in talks with Chinese private equity major Primavera Capital and existing investor Alibaba’s payments affiliate, Ant Financial, among others, to raise between $500 million and $1 billion in a new financing round, close on the heels of rival Swiggy raising $1 billion last year.
Berlin-based Delivery Hero had a presence in India through Foodpanda, which it sold to Ola for a 1% stake in the ride-hailing major in December 2017.
In October 2018, the restaurant discovery and food-delivery platform had signed a definitive agreement to raise about $210 million from its existing shareholder Alipay Singapore Holding Pte. Ltd., the digital payments arm of Chinese e-commerce giant Alibaba. Through the transaction, the parent company Info Edge’s shareholding in Zomato was reduced to about 27.68 per cent on a fully converted and diluted basis from 30.91 per cent.
Prior to that in February last year, Zomato had raised $200 million in a funding round led by Ant Financial. That round saw Ant Financial buy Zomato shares in primary and secondary transactions, while Info Edge sold its shares bringing its shareholding down to 30.91 per cent from 44.74 per cent then.
According to the sources cited in the news report, Zomato CEO Deepinder Goyal is looking at divestment options in a bid to avoid ceding a lot more stake to Ant Financial, which already owns 28% of the company.
Last month, Zomato’s rival Swiggy raised $1 billion in fresh capital from existing and new investors such as Naspers Ltd and Tencent Holdings Ltd, marking the biggest ever funding round in the country’s booming food-tech sector. In June 2018, a $210 million funding had made Swiggy a unicorn.
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<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/indian-food-delivery-startup-zomato-eyes-up-to-1b-in-new-round-report-115601/" target="_blank" rel="noopener">Indian food delivery startup Zomato eyes up to $1b in new round: Report</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/swiggy-raises-1b-fresh-capital-to-take-on-rivals-in-booming-indian-food-tech-space-114729/" target="_blank" rel="noopener">Swiggy raises $1b fresh capital to take on rivals in booming Indian food-tech space</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/zomato-alipay-singapore-108818/" target="_blank" rel="noopener">India: Food ordering platform Zomato raises $210m from Alipay</a>
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Online food ordering and restaurant discovery platform Zomato is in talks with German food delivery firm Delivery Hero to sell its business in UAE.

India: Zomato in talks to sell UAE unit to Delivery Hero for up to $250m

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India: Zomato in talks to sell UAE unit to Delivery Hero for up to $250m

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